Is Bitclout The Dumbest Scam...?

hello guys and gals me mudahar and today i have a video that may in fact be a full-on scam allegedly i have to state that for legal reasons in fact this may not be and it may be a scam but we're going to look through this video ladies and gentlemen and hopefully come to a pretty logical conclusion now today's subject is bit clout anything with the word clout in it already has me a little shocked and worried now this is the crypto social network right now lately nfts and cryptocurrencies have been the all too common trend that i've been seeing floating around on the internet everyone's looking for the next get rich quick scheme and all that nonsense now i've kind of been following this a little while and ladies and gentlemen i want to just really get into the meat and potatoes now before we get into it we're going to read their one pager so that we really understand quickly what what the whole bit cloud is all about let's let's let's learn today ah bitcloud is a new type of social network that lets you speculate on people that pose with real money its architecture is similar to bitcoin only it can support complex social network data like posts profiles follows speculation features and much more at significantly higher throughput and scale like bitcoin bitcloud is fully open source and there's no company behind it just coins and code open source you like all those buzzwords is that is that freaking you out a little bit well let's learn everyone has a coin everyone on the platform gets a coin that you can buy and sell we call these creator coins and you can have your own coin too simply by creating a profile you can buy other people's coins okay all right fair enough now who do they have on this list kim kardashian elon musk cardi b barack obama well that justin bieber well there's some popular figures out there okay all jokes aside all right let's look at the bit clout registration all right when you open up bitcloud here real quick i think one thing to notice over here is when you're when you're done setting up your account they're going to ask you for some starter big cloud here give us give us give us a cell phone number homie verify your number as if i'm going to give my number to anything okay so i'm gonna give my number some decentralized network to get some free bitcloud or whatever the [ __ ] that is so now that we've created our bitcloud account all right you can see this is my account i'm signed in and there's all these popular individuals now to understand there's been plenty of creators that have come out and sort of you know given some sort of uh oh this is hot this this is the real new deal logan paul for instance came out god this kid's full of surprises big clout it's hot it's hot on the market right now uh i told you the guy who really logan really you think it's hot now people have been sharing this clip around of logan paul saying bitcloud is hot and everything um and i think it's a little bit out of context i think if you watch the entire five minute like piece uh he doesn't really know a whole lot about bitcloud to understand if logan paul believes that this was a hot little service do you think logan paul has verified his account over here really quick let's check out logan paul's bitcloud account now here's the interesting thing about bitcloud okay now that we looked at logan paul here's logan paul's account right logan paul apparently has a valuation a market cap of 2.4 million dollars with 812 000 locked down 178 coins of logan coins floating around god damn in fact if you go to creator coin you can see that logan owns 33 coins logan's wait is this actually logan's account does it have a no it doesn't have a verification it has a clock symbol meaning the profile is reserved now what does that mean it means logan has not joined bitcloud okay to join bitcloud you have to make an account you have to tweet your public key and add hashtag bitcloud on your actual twitter account and then they'll apparently transfer the account to you within 48 hours so this is logan paul all right his bitcloud account that he never made it's not his but somehow that he has a market cap of 2.4 million dollars apparently 812 000 is locked down and i believe this is money that logan paul can claim apparently and it doesn't just stop there there's multiple accounts william shatner apparently father to three girls not political be warned or be blocked calendar right he has five point seven thousand dollars locked down with an eighteen thousand dollar market cap you see william shatner he's reserved let's see what william shatner actually has to say about his bitcloud account william shatner i love how they literally just copied his bio word for word dude come on william shatner says it's a scam and i've not authorized my name or likeness to be used so if you see my name or photo it's not been authorized hashtag bitcloud hashtag bit clout scam scam what do i know william shatner's only been in a spaceship mr beast oh damn mr beast you got a big cloud account oh it's reserved i got you mr beast apparently has 1.1 million dollars locked at 1.2 millilock down with a 3.6 million dollar market cap i bet that's not inflated now he's got 203 coins in circulation and if you look he's already got 42 coins the account itself then you've got the talent fund the talent fund bitcoin god stewart's fetty all these other people who have apparently bought into him invested in mr beast's bitcloud account and have bought bitcloud okay listen i don't want to keep beating a dead horse but ariana grande is on here too with 1.4 million lock down 4.2 million dollars of a market cap and if you look at that stuart telling fun talent man it's like the same people are just wait a minute wait a minute let me let me let me let me do a quick thing let's go back to logan paul's account real quick ah logan logan talon fund big clout god it's like i'm seeing a lot of similar names invest into one another it's kind of a little shady there but we'll get to it now how does one purchase bitcloud in order to invest in people well one purchases bid clout by sending them about forty dollars roughly in bitcoin to this address and uh purchasing the bit clout cryptocurrency which they can use to buy invest into other users now let's say that you have like let's say 200 million dollars worth of bitcloud just sitting around how would you redeem that money well let's look at bitcloud's options real quick now you can buy bitcloud all right can't withdraw there's no withdrawal options over here i don't even know if you can really swap it to bitcoin or whatnot total bitcoin to swap bitcoin there's really no way to to to retrieve it back out from here here you can just buy coins for elon musk who coincidentally doesn't also own his account as well and that is the account a lot of people have put their money into in fact if we open up elon musk's account we go to creator coin over here real quick you can see ah i'm seeing more talent fun these no name accounts putting it one already owns 9.83 million dollars worth of this monopoly money what now if you go to sendbitcloud okay you can send it to other users but again there's no like there's no redeeming it out what wallet so here i had zero dollars worth of it i refused to give them my money that's never gonna happen happen and then get starter bit cloud but not going to happen but there's really no way of taking the money out so i i've seen this on numerous other channels coffeezilla actually has made numerous videos about this covering exactly how you couldn't get the money out of it in fact everyone that i've talked to investigating this cannot retrieve their money out of bitcloud so you can put money into it how can you get it out now nobody really knows who the owner of bitcloud actually is uh because you know it's all decentralized and open source and all that [ __ ] but bitcloud has some serious investors like sequoia coinbase ventures winklevoss cap vince vos capital apparently and here all right while some are weary you can currently put bitcoin into the site but you can't withdraw the project's lead founder says his well-connected backers might help exchange listings materialize it might help except might is a key important factor right here now if you want to know how much money ever got transited out of this [ __ ] well if we go look inside a reddit account that actually you know brought out the fact this is the bitcoin wallet address right the actual wallet address you can take this wallet address and look at the history of the wallet address and if you open up the history you can see that it's one two three thirty seven thousand transactions how much money uh it has received a total of two 209 million dollars okay that's that's money sent to this account in bitcoin which you can transact in major exchanges for actual us dollars the where we get really shady here is since bitcloud has used the actual likeness of logan paul mr beast william shatner elon musk ariana grande justin bieber this against their permission by the way okay just reserving them and having gullible users sign up and buy and invest into them with this you know monopoly money where they actually dump in real worth money okay for worthless coin effectively that they can't you know withdraw uh they've been they're getting hit with cease and desist lawsuits at this point okay so apparently their leader has actually gotten hit with a cease and desist uh by a prominent crypto law firm okay and you know you can read this all you want but uh yeah they're getting sued at this point there there's potential lawsuits that are start sparking up there are cases there are issues okay so here they say bit cloud uses the name reputation of over 1500 well-known individuals to offer consumers the opportunity to purchase tokens this is no good all right this is not good for them this isn't a good look chief now what has effectively happened over here what really also adds to the shadiness is big cloud has done a pre-mine okay of the bit clout token their currency now if you don't know what a pre-mine is prime is basically creating a certain amount of the cryptocurrency so in this case bitcloud before it's ever available to the public now normally when you do a large amount of this okay it's kind of frowned upon all right it's kind of an issue but basically what's happened over here is they took 2 million allegedly of their bitcloud token for founders and investors so the people who are pumping money into this now according to the howie test which is a us supreme court case for determining whether transactions qualify as an investment contract long story short the people who are investing their money into it they might get something back you know they're they might make the money all right they might make some good money people who are you know getting you know tricked into it people who are just you know slipping into the big cloud world they might be getting you know they might not be making money all right just simple as that now to add finally into the into into the weird shady side of it we're going to look into a user known as cryptoshiro on twitter who's created this exceptionally amazing thread of bitcloud by using their block explorer because remember it's open source and decentralized and all that [ __ ] actually looked in and has found out that it's way more shadier than than you'd ever expect so for so what he's discovered into this is by using again that bit clout you know blockchain explorer is this is the genesis block so that's for those wondering is block zero right the origin point of the blockchain right now in this he's found out that apparently block zero contains one transaction the block reward and that's worth eight million bitclout coin now according to their evaluation if you go right to their website once again all right just straight to their website you can see that it is 142 dollars per coin now he's calculated as 144. that's around 1.15 billion dollars worth of a pre-mine money you and me ain't gonna get you know what i mean that's already been pre-mined that's the monopoly money so then they went down over here and they found that it was split into 482 public keys a key scrape when you first sign up if your profile is one of the 1500 they scrape from twitter it already has a key to claim your profile you need to swap them by tweeting your key thereby promoting them so basically a lot of people who get on like for instance let's say mr beast fell into the trap and he's like wow should i get this [ __ ] coin and he tweets up follows the rules he's therefore promoting this bit clout nonsense and if he does it and a lot of other you know verified twitter users do it it breeds legitimacy into this platform and when it really shouldn't have any of that legitimacy to begin with the reward was not split evenly some keys hold 100 thousands of bitcloud while some only get like a tiny fraction alright so apparently 349 keys containing 5.7 million bitcloud have not been touched since the genesis block so apparently these are some keys that haven't been touched into the nonsense there are 11 actions that get recorded on the blockchain your average activity on the bitcoin website consists mostly of these actions listed as transactions so here they're giving you all the transaction types and whatnot so this is where things get even more [ __ ] eventually 42 days after the genesis block block 1 to block 2 389 were basically mined right now in total there was 57 000 transactions that were recorded so these are all the transactions that are kicking in now of course looking at them the transactions consist of basic transfer update profile creator coin so this is how they were populating all these accounts right so they were taking that katy perry account in this case right from twitter and then copying it all the way over to the katy perry like bitcloud account right now of course the more and more you do these actions you are charged gas fees that are recorded on the blockchain right so of course these are all the fees that get charged with it pretty simple stuff to get so far if you've been into crypto later on all these keys went through four transactions they got sent with a bit of bitcloud for the gas fees spent it to update profiles that they scraped from twitter gots any larger amounts spent it to buy their own coin okay so then you go on further once you've done this over and over and over again all right the next step is to make all these accounts like justin bieber kim kardashian you know mr beast looks so valuable that the influencers that they apparently are reserving it for would be enticed to claim all the money that's apparently just sitting there and what do they do they apparently artificially pump that creator currency they artificially go out there now currently starting from block 5529 a similar process of sending bitcloud to each profiles they could buy their own coin began the time this time the amount was larger but varied arbitrarily this is why every profile comes holding their own coin and why their value is artificial because everyone's got their own crypt everyone's got their own coins moon a coin is not worth anything if it was to be placed on this service we could see from the block explorer that all the big clout that were distributed for updating profiles and pumping purposes came from the genesis block reward two genesis public keys were responsible for distributing the funds all right genesis public key 102 and 131 since genesis keys are pre-loaded with the pre-mine money that we talked about earlier the money that's already been put aside that one billion something that was calculated from block zero it's it's safe to assume that whoever is in possession or has access to them as part of the bitcloud team or potentially a big major investor out of the 113 genesis keys that have been shown activity since block zero around a half have updated their profiles and can now be browsed on the bitcloud website they're respectively called master and merlin and whatnot now so what happens in the transactions right is that master is used the master account is used mainly to distribute bitcloud to influencer profiles which were all then automatically used to buy their own coins which is why i guess earlier we saw that the bit the you know a lot of those creators had their own coins i guess is what they're they're claiming here on the other hand merlin's job is to give out 0.00002 starter bitcloud you know how we had to give our money earlier for every user that's signed up to pay gas fees for simple actions like updating profiles or posting so we get a little bit of money so that we can do basic things on the website without it asking for more money to begin with so here they mentioned the top coin holders of the highest value creators like elon musk are mostly genesis public keys or accounts that have received pre-mined bitclout from them all right charity who is in the top five coin holders for these creators is genesis key 244 who has updated their profile so this is apparently one of those people right they own they own a ton of elon musk coin they own a ton of naval coin a ton of katy perry coin a ton of chamath coin and so on and so forth so how we saw it earlier right how there was like very similar accounts constantly buying every like big creators you know coin it's [ __ ] weird yeah see like you can't do anything you can't see like you can go onto the thing you can type test post you can go to post you have to complete your profile and to get the starter brick cloud you have to provide a phone number i'm not going to give you a phone number it's not going to happen chief you're not going to get it from me now the other big thing is all right i i can't find any open source bit of this nonsense they said at the beginning they're an open source type of network i've looked over here browse the big cloud social network or learn more learn more about the project here so you click there it takes you right to the home page where do i see where where is the actual bit of like where's the open source code where do i audit this code where do i look into it the closest thing i found is this bitcloud explorer which i don't even know if this is legitimately bid cloud run your own bitcloud node alright so i guess desktop explorer um yeah let's go to the explorer here real quick what is this code it's a docker file there's where is the code where so where is anything here there's it doesn't seem like i can find any bit of code to like look through this what okay so bottom line is we've went through a lot this video is going on longer than it ever has to be ladies and gentlemen i'm not going to say that bitcloud is a definitive scam because like i said you know who knows what comes out a month for two months from now but this is one of those weird weird shady websites that i would never recommend to anybody okay because what i've seen over here is a website with one pagers that use a lot of [ __ ] cool buzzwords a site that literally uses identification the likeness of actual users without their consent and then apparently is getting away with it until this lawsuit apparently looked at kicks in a site that has the ability for you to pump money into it but not withdraw this seemingly valuable multi-billion dollar market cap cryptocurrency for some reason and a website that has a open source you know sort of moniker a open source decentralized platform that doesn't really seem too [ __ ] open source because i can't find the goddamn source to begin with kind of an integral part to the source code phenomenon um maybe i'm just stupid if bitcloud has the source code please please link me to it and i will gladly append that last part of the video and uh if we're gonna go even behind that just before that a little bit there's been plenty of like interesting investigations from users who have looked into their actual bitcloud um you know blockchain history and have come across very very weird pre-mining calculations and very weird transaction histories so ladies and gentlemen would i recommend bitcloud absolutely not and honestly i just want to educate people into realizing that all this new type of cryptocurrency and this blockchain based technology that's kicking in while it's exciting and everything there are definitely examples like what we're looking at over here that are too [ __ ] shady to support in any capacity and the fact that people are kind of falling for it absolutely pisses me off because the more people that don't have education that don't know how this works fall for it and eventually realize that uh eventually you know when you have people falling for it you're gonna have actual investors and mass coming to pump this in when in reality the 200 million dollars we saw earlier in the bitcoin account is probably money that's all gone at this point you know with the lawsuits kicking in i'm almost guaranteeing that there has to be some level of prosecution okay otherwise there's no [ __ ] fairness in the world ladies and gentlemen i'm going to stop right over here this is me mudahar i'm a little heated right now okay it's a little wild i'm going to get up go for a walk you know and that's it this is me mudahar and if you like what you saw please like comment and subscribe just like if you dislike it i am out [Music] you

Channel: SomeOrdinaryGamers

Views: 265,985

Rating: 4.9717631 out of 5

Keywords: bitclout

Id: Gc1TYNRYqas

Length: 20min 58sec (1258 seconds)

Published: Sat Apr 24 2021

Reddit Comments

[u/TheLegendaryEsquilax]

The key statement he made that I think applies to David is that by using the platform and encouraging his subscribers to sign up, it gives legitimacy to this probable scam website.

David has responded that you don’t have to invest and that you can simply follow him on BitClout as he will be posting there. However, on his show he is advocating for people to be his top stake holders.

At this point, instead of using this questionable platform, maybe David should just make himself accessible to his top Patreon donors. Just a thought

[u/ComfortJones]

Crypto in general is a scam and HORRIBLY overuses energy in a time when global warming through energy consumption is such a problem. David really should get off this and fast.

[u/ccasesvilla87]

i posted in another of davids threads, a reddit were they reverse engineered the code for bitclout and another link to the github with the source code they reverse engineered, its a scam